Global Electronic Testing Master Files (eTMF) Market to Surpass US$1,701.3 Million by 2028, According to Coherent Market Insights (CMI)

SEATTLE, Jan. 19, 2022 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the Electronic Testing Master Files (eTMF) Market is estimated at US DOLLARS$ 939.6 million in 2021, exposing a CAGR of 8.9% during the forecast period (2021-2028).

Key trends and analysis of the global Electronic Testing Master File (eTMF) market:

The major players in the market are focusing on the business development strategies such as product launch, acquisition and agreement which is expected to propel the market growth over the forecast period. For example, in March 2021, Phlexglobal, a provider of intelligent regulatory data management software, launched PhlexTMF software. This is new software that responds to the pharmaceutical industry’s growing demand for easily inspectable storage of the Test Master File (TMF) after the completion of a clinical trial study. It bridges the compliance gap by enabling secure and convenient eTMF access to clinical study data from anywhere, anytime.

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Main market takeaways:

The global Electronic Testing Master Files (eTMF) market is expected to grow at a CAGR of 8.9% during the forecast period, driven by increasing merger and collaboration agreements among key players. For example, in August 2019, TransPerfect, a software solutions provider, partnered with Symphogen, a biotech company. Symphogen chose TransPerfect’s Trial Interactive (TI) GlobalLearn learning management system to deliver extensive compliance-focused training sessions to researchers to ensure regulatory compliance and overall operational excellence.

Among the product types, software segment is estimated to account for the largest market share in the global electronic test master file (eTMF) market in 2021. The market players engage in inorganic activities such as partnerships, to launch new eTMF software, which is expected to drive the growth of the software segment during the forecast period. For example, in August 2021, Alimentiv, Inc., a contract research organization (CRO), entered into a partnership with Veeva Vault, a content management platform and launched a new eTMF solution, to improve efficiency, simplify workflows and provide transparency into the real-time status of the TMF.

Among the deployment types, the web/cloud segment is expected to account for the largest market share in the global electronic test master file (eTMF) market, owing to the growing adoption of cloud-based eTMF software by the biotechnology companies. For example, in 2017, Medidata, the global provider of cloud-based solutions and data analytics for clinical research, announced that Horizon Pharma plc, a biopharmaceutical company, had selected Medidata’s clinical cloud platform to meet to its eTMF and study conduct requirements as well as a full suite of solutions for their end-to-end clinical research needs.

Based on region, North America is expected to hold a dominant position with the largest market share in the global Electronic Trial Master File (eTMF) market growth over the forecast period, owing to the increasing adoption of the Electronic Trial Master File (eTMF). (eTMF) software and services from medical device manufacturers. For example, in October 2021, CARMAT, a medical device company, selected Veeva Systems’ Veeva Vault eTMF software to simplify trial master file (TMF) management. Vault eTMF will allow CARMAT to actively manage all TMF processes and documents on a single cloud platform for more transparency for documentation purposes. This, in turn, will help CARMAT focus more on patients.

Competitive Landscape:

Key players operating in the global electronic test master file (eTMF) market include Phlexglobal, Montrium Inc., TransPerfect, IQVIA, Veeva Systems, Clinevo Technologies, Ennov, MasterControl, Inc., ArisGlobal, Florence HC, Medidata, and SureClinical Inc.

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Market segmentation :

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CONTACT: Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: [email protected] Website: https://www.coherentmarketinsights.com

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